Edo State Governor Godwin Obaseki said Nigeria must readjust its economy to export semi-finished and finished goods or the country’s stringent foreign exchange regime will not improve.
The governor spoke on Wednesday as he welcomed leaders of the State Ed South Senate constituency at the governor’s office in the city of Benin.
The federal government’s volatility in the Nigerian currency, Naira, caused the exchange rate to rise sharply, with one dollar being exchanged at a high of 945 Naira.
According to the governor, “We can’t wait for dollars. We can’t wait for everything to be imported. Things aren’t going to get better soon, so we have to export our own. By continuing to work for the people of the world, we can improve their lives and their futures.”
The governor noted that the state government is working hard to improve the state economy and build the necessary mechanisms to support exports.
“In two years under the Edo State Oil Palm Plan (ESSOP), we have allocated over 70,000 hectares of land for fresh oil palm plantations. We have businesses in Edo State and we are setting up institutions to train the people who work in those businesses.”
The governor further said the government is laying a solid foundation to boost exports, improve productivity, create jobs and build wealth for the benefit of the people of Edo.
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